The Yamuna Authority plans to cancel the plots belonging to 302 allotted residential properties. These allottees must deposit 90 percent of the total plot amount within ten days. The plot allotment will be canceled if the owners do not make the payment according to the established timeline.
The residential plot scheme of the Yamuna Authority received more than one lakh applications. The authority conducted the plot distribution through a lottery in December. Each winner received their allotment letter following the lottery procedure, along with a sixty-day period to pay ninety percent of the plot value. The specified timeframe for this arrangement will end on March 1, as reported by Jagran.
For this online applications were taken. With this application, 10% of the total price of the plot were also submitted as a part of registration fee.
The residential property prices set by the authority continue to rise at a steady pace. The steady increase in plot prices occurs because of this development. People who attempt to participate in the scheme first seek bank loans to pay the registration fee, but finding 90 percent of the remaining amount as one lump sum proves difficult after securing an allotment. The probability of allotment cancellation rises when the applicant fails to obtain bank financing due to insufficient funds.
On Wednesday, the YEIDA has allotted 7% of the plots to 77 farmers of Jaganpur Afzalpur village. The allotment of the plots were done by taking out slips in the lottery held at the office of Yamuna Authority.
